China will finance solar panels to Costa Rica, for reaching a 100% electricity coverage in homes

Bank from China will loan $100 million for change of vehicle fleet to cleaner technologies.

June 02, 2013.

A financing agreement for $ 30 million for the purchase of 50,000 solar panels will be signed by the President of China, Xi Jinping and President Laura Chinchilla on Monday at the Presidential Palace, the Ministry of Environment and Energy (Minae ), in a statement.

Once installed solar panels to 28,000 families, the country completed the 100% electricity coverage in homes, the ministry said.

According to the National Census of Population and Housing 2011, electricity coverage reached 98.88% of Costa Rican households, making it one of the most pervasive services . However, there are some rural areas where only 95% is reached.

René Castro, Minister of Environment and Energy, said that some of the panels will also be used to install a solar plant of 10 MW, enough to supply a small city like Quesada or Canas, occupying almost 30 acres for the solar farm.

"Currently the largest solar plant in Central America, located in Costa Rica, produces only 1 MW, which will mean a jump in experimenting with massive supply solar plants," the Minae in the statement.

At the meeting, the presidents also signed an agreement for a loan of $ 100 million to finance the change of the fleet of buses and taxis of Costa Rica by vehicles using clean technologies such as electricity, gas or hybrid. These funds would also provide for the purchase of trains.

This credit will give the Export-Import Bank of China Bank of Costa Rica, through a cooperative agreement.